Soitec (SOI) Q3 2026 TU earnings summary

Executive summary

• Leadership transition underway, with Laurent Rémont appointed CEO effective April 1, 2026, as the company enters a new growth phase supported by diversification and R&D investment.

• Q3'26 revenue reached €160 million, up 18% sequentially from Q2'26 at constant exchange rates and scope, but down 29% year-over-year as reported, exceeding guidance.

• Strong performance in Artificial Intelligence and successful diversification into new product lines aligned with AI and energy efficiency megatrends, doubling R&D investment and restoring the balance sheet.

• Focus remains on operational excellence, disciplined cost and cash management, and aligning capacity with demand amid challenging market conditions.

Financial highlights

• Q3 revenue was EUR 160 million, down 22% year-over-year at constant scope and FX, and down 29% year-over-year as reported, with a 7% negative currency impact.

• Sequentially, Q3 revenue increased 18% organically from Q2, exceeding guidance.

• Nine-month revenue for FY2026 reached EUR 390 million, down 26% year-over-year organically and down 31% year-over-year as reported.

• Mobile Communications contributed 56% of Q3'26 revenue, Edge & Cloud AI 34%, Automotive & Industrial 10%.

Outlook and guidance

• Q4 is expected to see around 20% organic revenue growth versus Q3 at constant exchange rates and scope.

• Mobile communications should improve sequentially, but year-over-year will reflect ongoing inventory adjustments.

• Edge and Cloud AI is expected to maintain strong momentum, driven by demand for Photonics-SOI and FD-SOI wafers.

• Automotive and industrial will remain soft but benefit from seasonal deliveries and a specific contract.

• Cautious stance maintained on the market environment, especially regarding the smartphone market and inventory correction.